InCoax Networks AB publicize new financial targets
The Board and Directors of InCoax Networks AB (publ), today publicize new financial targets.
The company is in an expansive phase with increased focus on providing licensing of software (Software as a service) and other services. Continued development of software features will broaden the use cases and increase the company’s addressable market. The ongoing activities are expected to add substantial potential for the Company.
- For the current fiscal year, 2022, the target is to double net turnover compared to 2021.
- For the fiscal year 2023, the aim is to continue grow net turnover at a considerable pace. Not counting a potential serial order from the North American Tier-1 operator we estimate that the turnover will grow at least another 50% 2023.
In addition to the above, the increased focus on SaaS and continued expansion will, in time, improve gross margin and soften the need for working capital.
This information is such information as InCoax Networks AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 08.30 CET on January 20, 2022.
For more information:
Jörgen Ekengren, CEO, InCoax Networks AB
jorgen.ekengren@incoax.com
+46 73- 899 55 52
About InCoax Networks AB
InCoax Networks AB (publ) is innovating the future of broadband access. InCoax MoCA Access 2.5 platform provides the next generation cost-efficient Multi-Gigabit Fiber Access Extension solutions to the world’s leading telecom, cable- and broadband service providers. To keep updated on corporate information, visit incoax.com. Augment Partners AB, tel. +46 8-604 22 55 info@augment.se, is acting as the company’s Certified Adviser.